Ex-DH Blair & Co Officials Face Indictment, Barron's Says
New York, July 15 (Bloomberg) -- Several former senior executives of the shuttered New York stock brokerage D.H. Blair & Co. are expected to be indicted on stock manipulation charges as early as next week, Barron's reported, citing unidentified sources. The Manhattan District Attorney's office is said to be pressing for a multimillion-dollar restitution fund for investors, the paper said, adding that former Blair brokers who have been prosecuted appear to be providing evidence against superiors. The paper didn't name the targeted executives; it said J. Morton Davis, who controls D.H. Blair Investment Banking, which remains in operation, isn't expected to be charged.
In March, D.H. Blair & Co. funded a $2.25 million escrow account for investor refunds under a 1998 settlement with state securities regulators, according to the North American Securities Administrators Association.
Jul/15/2000 17:05 ET
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